Govt hopes to achieve 2.3% economic growth this year

he government has estimated that the country’s annual economic growth will stand at 2.3 per cent this fiscal year that ends in mid-July.

While presenting the annual budget for the fiscal year around this time last year, Finance Minister Yuba Raj Khatiwada had set the target of 8.5 per cent growth in the gross domestic product. However, the government revised the growth rate into a little more than a quarter of the target due to the impact of the Covid-19 pandemic.

Minister Khatiwada presented the report of the annual economic survey in the House of Representatives meeting on Tuesday and announced the revised target. Earlier last, the National Bureau of Statistics had projected a 2.27 per cent growth rate.

In the past two years, the government had achieved economic growth at 6.35 and 6.75 per cent respectively.